E22.2 (LO 1) (Change in Principle-Inventory Methods) Holder-Webb Company began operations on January 1, 2018, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for 2021. The following information is available for the years 2018-2020. 2018 Net Income Computed Using Average-Cost Method FIFO Method LIFO Method $15,000 $19,000 $12,000 18,000 23,000 14,000 20.000 25,000 17,000 2019 2020 Instructions it. b. (Ignore all tax effects.) Prepare the journal entry necessary to record a change from the average-cost method to the FIFO method in 2021. Determine net income to be reported for 2018, 2019, and 2020, after giving effect to the change in accounting principle. Assume Holder-Webb Company used the LIFO method instead of the average-cost method during the years 2018- 2020. In 2021, Holder-Webb changed to the FIFO method. Prepare the journal entry necessary to record the change in principle. c